Investors should remain long and get ready to buy on pullbacks, funds manager Sarat Sethi says.» Read More
BEIJING— China announced Wednesday it will fine 12 Japanese auto parts suppliers a total of $202 million for colluding to raise prices in an unfolding anti-monopoly probe of the country's auto industry. Officials said earlier that Mercedes Benz, Audi and Chrysler also violated the law.
NSK Ltd. said Tuesday it was fined 174.9 million yuan and NTN Corp. said it was fined 119.2 million yuan. It said the company, a unit of Germany's Daimler AG, used its control over supplies of replacement parts to charge excessive prices. Officials have said Volkswagen AG's Audi luxury unit and Fiat Chrysler Automobile NV's Chrysler also violated the law.
SHANGHAI, Aug 18- German luxury car Mercedes-Benz has been found guilty of manipulating prices for after-sales services in China, the official Xinhua news agency reported, citing regulators.
BEIJING— China's government said Monday it has concluded Mercedes-Benz violated anti-monopoly law and charged excessive prices for parts, adding to a growing number of global automakers snared in an investigation of the industry.
SHANGHAI, Aug 18- German car maker Daimler AG's luxury brand division Mercedes-Benz has been found guilty of manipulating prices for after-sales services in China, the official Xinhua news agency reported, citing authorities in Jiangsu province.
SAN FRANCISCO, Aug 14- Samsung Electronics Co Ltd will buy SmartThings, a startup backed by PayPal co-founder Max Levchin that helps connect household devices, one of its largest U.S.-startup acquisitions to date.
*Chinese academic took "huge rewards" from Qualcomm- Xinhua. BEIJING, Aug 14- Qualcomm Inc, under investigation for possible monopolistic practices in China, said it had no direct financial links with an antitrust expert sacked from a government advisory post after state media reported he had received payments from the firm.
BEIJING— A panel that advises China's Cabinet on anti-monopoly policy has fired an economist who was paid to help prepare a report for Qualcomm, a U.S. company that is the target of a pricing investigation, according to state media.
BEIJING— Chinese state media say a panel that advises the Cabinet on anti-monopoly policy has fired a researcher who helped to prepare a report for Qualcomm, a U.S. company that is the target of an anti-monopoly investigation.
BEIJING, Aug 13- A Chinese academic who sat on a government anti-monopoly advisory committee has been sacked, official news agency Xinhua reported on Wednesday, saying he had taken payments from U.S. chipmaker Qualcomm Inc..
With Cisco reporting earnings after the bell Wednesday, analysts aren't expecting much good news on its Chinese business.
BEIJING, Aug 13- The European Union Chamber of Commerce in China on Wednesday expressed concern over a recent series of antitrust investigations, saying China was using strong-arm tactics and appeared to be unfairly targeting foreign firms.
The company is "cooperating fully with the queries from the authorities on Lexus," said Toyota spokesman Naoki Sumino in Tokyo. Authorities said this week that Audi, which is Volkswagen AG's luxury unit, and Fiat Chrysler Automobiles NV's Chrysler brand would be punished for unspecified anti-monopoly violations.
BEIJING, Aug 7- China's recent probes into Microsoft Corp and car companies including Audi and Chrysler have rekindled concerns that Beijing may be using an anti-monopoly law to support domestic firms at the expense of foreign companies.
Aug 6- It is hard, often thankless work being a mature technology company. New technology threatens existing revenues, making top-line growth difficult. For many, notably Microsoft and IBM, the play to make in response is something Bolko Hohaus of Lombard Odier Investment Managers has called GOSOBB, or Giving Out Stock Options and Buying them Back.
SAN FRANCISCO, Aug 6- Practice Fusion, provider of a free electronic health record service for doctors, bought app developer Ringadoc on Wednesday as it moves into a new market: telemedicine. Research firm IHS forecast that the U.S. market will grow to $1.9 billion in 2018, from $240 million in 2013..
A Chinese regulator conducted new raids on Microsoft and partner in China Accenture, the agency said on its website on Wednesday.
Chrysler is owned by Fiat SpA while Volkswagen owns Audi, and both are premium brands in China. The NDRC also said it was launching a probe into Mercedes-Benz, owned by Daimler AG, and that it had finished investigating a dozen Japanese spare-part manufacturers on similar anti-trust charges.
SHANGHAI/ BEIJING, Aug 5- Daimler AG's luxury brand Mercedes-Benz said it was cooperating with China's anti-monopoly authorities over an investigation into unspecified matters, after Chinese media reported the German carmaker's Shanghai office had been raided.
*Visit follows Mercedes-Benz weekend parts price cuts. "We confirm that we are assisting the authorities in their investigation," Mercedes-Benz said in a statement, issued in response to a query from Reuters on whether the office had received anti-trust officials from the National Development and Reform Commission.